C-Suite leaders often have sleepless nights. We are so committed to the success of our company that we worry about critical issues facing it. Here are 5 things that are keeping up the executives we are working with.
Supply Chain Disruptions – Mexico vs. China and Others
Supply chain disruptions are a matter of fact. They are increasing in frequency, and it is estimated that these major disruptions will impact global trade by over $5T in the coming few years. Supply chain disruptions can be categorized as follows:
Manufacturing and distribution companies are dealing with this host of disruptions and their supply chain strategies should be focused on these.
One of the most significant strategic efforts is decoupling China from a company’s supply chain by opening up operations and/or sourcing product from Mexico. This week, a report from the US government showed that imports from Mexico were up 5% to $475B and imports from China were down 20% to $427B. The first time in 20 years, because of trade and geopolitical tensions between the US and China. Companies view nearshoring as a strategic priority because it provides lower risk and more agile supply chains.
What’s in your strategy? We can help.
Customer acquisition is a pillar of everyone’s strategic plan. Over the last few years, customer behavior has changed dramatically both in the Business to Consumer (B2C) and Business to Business (B2B) spaces. Every current and potential customer starts with the internet. They go there to do research and get educated on your value proposition as shown below:
When was the last time you took a good close look at your customers’ journey to you? We have updated a Customer Journey Map to reflect today’s customer experience and how you impact that with your sales and marketing efforts. It covers customer acquisition and the process of keeping them. Understanding it and planning for it will positively impact your Market Effectiveness and your financial performance.
Total Cost of Ownership
The concept of Total Cost of Ownership (TCO) applies to many things, including but not limited to products (from a customer viewpoint and from a business standpoint), vendors, technology, manufacturing and distribution. The total cost of ownership model provides you insight on your costs, but just as important, the total cost your customers must incur to own your product and services. Understanding TCO gives you competitive insight that is invaluable. It is especially valuable when considering strategic options. At Group50®, we have done dozens of TCO projects for manufacturing facilities, supply chain optimization, purchasing and product portfolios. We can help you better understand how TCO impacts your business.
Digitalization – Leveraging Technology
Technology drives everything in a business. There are 3 horizontal business processes as shown below – Market facing, Technology, Value Added activities.
Most companies do not fully leverage their existing technology backbone. This is especially true for middle market companies who have built up their technology backbone over time. A digital technology assessment will provide you with a strategic roadmap on how to better leverage your existing investment and identify ways to align your digital strategy with your business strategy and significantly improve business performance. Our services include but aren’t limited to:
- Helping you leverage your current technology better.
- Choosing and implementing a new software system such as ERP, MRP, WMS, MES, WMS, CRM and a host of others
- Digital Transformation
- Technology cost reduction – Cloud and infrastructure
Every client we speak to has an issue with getting and keeping good talent – The bridge between strategy and results. But they often don’t have a Talent Management Strategy that effectively deals with issues related to recruiting, training, compensation and the hybrid workforce. You will find a plethora of ideas and approaches in our series of articles on Talent Management.
At Group50® Consulting we can help you deal with issues and provide you and your team fewer restless nights and the ability to focus on accelerating business performance. If you want to discuss how we can help, give us a call at (909) 949-9083, drop us a line at email@example.com or request more information here.
Strategy Realized – The Business Hierarchy of Needs
- Market Effectiveness – The 12 Critical Marketing and Sales Software Systems
- Digital Technology Consulting: Navigating the Digital Landscape
- 5 Things That Keep C-Suite Leaders Up at Night
- Market Effectiveness: The Customer Journey Map for Manufacturing and Distribution Companies – Direct to Consumer – Bricks & Mortar – Business to Business
- Podcast: Jim Gitney with Host David Bookbinder on “Behind the Numbers”
- Making Continuous Improvement a Reality
- Building Effective Procurement and Supply Chains Using Data Analysis -Live Webinar with Jim Gitney –
- Stopping Short of Excellence – Overcoming “Good Enough”
- Group50® Consulting in Manufacturing and Distribution
- Group50® Supply Chain Consultants: Empowering Businesses through Expertise